APAM vs GWRS: Correlation
Measured on weekly returns over the past three years, Artisan Partners Asset Management Inc. (APAM) and Global Water Resources, Inc. (GWRS) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APAM and GWRS?
On 3 years of weekly data the APAM/GWRS correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 419.7 %².
By 3-year correlation, GWRS places #11 of the 17 assets tracked against APAM. Their 12-month results are close: +1.2% for APAM against -1.6% for GWRS.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
APAM vs GWRS: side by side
| APAM (Artisan Partners Asset Management Inc.) | GWRS (Global Water Resources, Inc.) | |
|---|---|---|
| 1-year return | +1.2% | -1.6% |
| 5-year return | +28.1% | -47.4% |
| Volatility (ann.) | 27.0% | 28.4% |
| Beta vs S&P 500 | 1.14 | 0.67 |
| Max drawdown (3Y) | -28.9% | -48.4% |
| Market cap | $3.1B | $0.3B |
| P/E (trailing) | 10.4 | 83.4 |
| Dividend yield | 7.95% | 3.28% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APAM | GWRS |
|---|---|---|
| 2022 | -31.3% | -20.7% |
| 2023 | +60.3% | +1.0% |
| 2024 | +4.8% | -10.0% |
| 2025 | +2.7% | -24.4% |
| 2026 | +15.4% | +11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APAM and GWRS good diversifiers for each other?
Only partially. A correlation of 0.55 means APAM and GWRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APAM and GWRS?
The APAM/GWRS correlation stands at 0.55 on a 3-year window (1 year: 0.50, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is GWRS a good diversifier for APAM?
Only partially. A correlation of 0.55 means APAM and GWRS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apam-vs-gwrs.json
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[](https://www.pairbook.io/pair/apam-vs-gwrs/)
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Related comparisons
Hubs: APAM correlations · GWRS correlations
